What the heck are they talking about? Many borrowers go through the closing process in a haze, nodding, smiling, and signing through a bunch of noise that sounds like Greek. Even though you may have put your trust in your real estate and mortgage team, it helps to understand some of the terminology so that […]

Timing the market for the best possible opportunity to lock a mortgage rate on a new loan is certainly a challenge, even for the professionals. While there are several generic interest rate trend indicators online, the difference between what’s advertised and actually attainable can be influenced at any given moment by at least 50 different […]

The difference between APR and actual note rate is very confusing, especially for First-Time Home Buyers who haven’t been through the entire closing process before. When shopping for a new mortgage loan, you may notice an Annual Percentage Rate (APR) advertised next to the note rate. The inclusion of an APR is actually mandated by […]

Many people believe that interest rates are simply set by lenders, but the reality is that mortgage rates are largely determined by what is known as the Secondary Market. The secondary market is comprised of investors who buy the loans made by banks, brokers, lenders, etc. and then either hold them for their earnings, or […]

Debt-to-Income (DTI) is one of the many new mortgage related terms many First-Time Home Buyers will get used to hearing. DTI is a component of the mortgage approval process that measures a borrower’s Gross Monthly Income compared to their credit payments and other monthly liabilities. Debt-to-Income Ratios are designed to give guidance on acceptable levels […]

Understanding the definition of Loan-to-Value (LTV), and how it impacts a mortgage approval, will help you determine what type of loan amount and program you may qualify for. Since the LTV Ratio is a major component of getting approved for a new mortgage, it’s a good idea to learn the simple math of calculating the […]

While most mortgage web sites offer a glossary containing hundreds of real estate and lending related terms, we wanted to highlight the top terms that most borrowers will hear several times throughout the approval and home buying process. Understanding the “Shop Talk” between the various industry professionals that you’ve assembled on your team will hopefully […]

Need A Home Loan?

Bill Phillips

Bill Phillips is a Preferred Loan Consultant for Opes Advisors, and will be one of the first team members to contact you. As Branch Manager of Opes Advisors, Bill is a Certified Mortgage Planner and Direct Lender and Mortgage Banker. He is also approved with dozens of other Banks and lending sources throughout the U.S, and California. He has custom tailored loan plans for clients for over 20 years. Bill offers financial advice on how to properly structure financing to help his clients save money while building wealth, whether you are purchasing your first home or a seasoned investor. Feel free to contact him at the telephone number provided or e-mail him at Bill@TrustedLoanAdvisor.com.